Be careful Many New Tokens on Coinmarketcap are - page 3.

Wiwo

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Quote from: DJANAS on February 15, 2023, 06:28:08 PM

Yeah true, I agree but I was almost one year and a half away from Crypto, That's why I need to do more research about the old websites and the new ones.

Ops you need to be aware that making multiple posts in a roll is against the rule of this forum, you can quote each user and reply to all of them in just one comment, instead of making multiple comments following each other in a roll.
-And back to the discussion, the best way to get the right information about any project is to carry out in-depth research about the projects to see and compare all the information and data that could help you succeed in your decision of investment.
-And most importantly chose a project that already has an established track record and verifiable data that will sustain its long-term market usability and demand such as a strong use case for the project ecosystem not in the whitepaper a but verifiable utility ecosystem for the project.

DJANAS

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Quote from: milewilda on February 15, 2023, 06:21:20 PM

Quote from: DJANAS on February 14, 2023, 07:47:12 PM

I noticed that Recently CoinMarketCap website has been adding new Tokens without verifying the Token team,goals, and if it's legit.
Most of these currencies collapse during the first weeks of its launch.
i Remember that the website used to check every Token before publishing it to the public.
Has anyone noticed that as well?

Nothing new, if you do tend to observe the number of crypto currency whether coins or tokens then it is really increasing day by day.This is why when you do intend to invest then be sure that you had done your part or
your assignment and not just carelessly picking up coins and invest like a mad man.You would definitely lose up big time if you do really have this kind of habit on which you are really that making yourself that
too greedy and aiming on getting rich and doesnt really like or wanting to miss out every launching. lol
Choose up on projects which you do seem that it does have potential and mostly stick into those who do have real use case.

Yeah true,i agree but i was almost one year and a half away from Crypto, That's why i need to do more researches about the old websites and the new ones.

DJANAS

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Quote from: iv4n on February 15, 2023, 05:59:16 AM

Quote from: joeperry on February 15, 2023, 03:30:59 AM

Quote from: Darker45 on February 14, 2023, 11:21:05 PM

This has always been the way with Coinmarketcap. But it is not a big deal. Coinmarketcap is not a site where one could verify whether a coin or token is legit or not. It
...

That's true, I've seen a lot of shitty coins that was listed before on the Coinmarket cap and it's on the "Trend" section too which give that coin more exposure but that doesn't mean they are legitimate and trusted project, they don't have any strict requirements and they are just there to provide data about that coin and not encourage to buy that coins. It's the job of the investor if they are going to invest to that project or not but the Coinmarketcap will just show data of that coin, brief information and where it can be exchanged.

Coinmarket, coingecko, and some other similar sites are useful for a quick review of some projects. Except for info where some coins/tokens can be exchanged, there are direct links to their sites, along with the price statistic. But as both of you pointed out, people should not rely only on these sites when they are looking for investments. It can be a good start, but nothing more than that...

When it comes to "new tokens on Coinmarketcap" I tried to remember 2015 and how cryptos were listed at that time... anyway, this is how it looks now:

I found an old image on the internet:

So 20k new listings in some very short period...

I guess it's the question when we will see 30k, maybe this year?

Respect !! i l really appreciate this answer, i like the comparing and i guess also 30K is possible in this yeah Cheesy

milewilda

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Quote from: DJANAS on February 14, 2023, 07:47:12 PM

I noticed that Recently CoinMarketCap website has been adding new Tokens without verifying the Token team,goals, and if it's legit.
Most of these currencies collapse during the first weeks of its launch.
i Remember that the website used to check every Token before publishing it to the public.
Has anyone noticed that as well?

Nothing new, if you do tend to observe the number of crypto currency whether coins or tokens then it is really increasing day by day.This is why when you do intend to invest then be sure that you had done your part or
your assignment and not just carelessly picking up coins and invest like a mad man.You would definitely lose up big time if you do really have this kind of habit on which you are really that making yourself that
too greedy and aiming on getting rich and doesnt really like or wanting to miss out every launching. lol
Choose up on projects which you do seem that it does have potential and mostly stick into those who do have real use case.

lalabotax

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Quote from: DJANAS on February 14, 2023, 07:47:12 PM

I noticed that Recently CoinMarketCap website has been adding new Tokens without verifying the Token team,goals, and if it's legit.
Most of these currencies collapse during the first weeks of its launch.
i Remember that the website used to check every Token before publishing it to the public.
Has anyone noticed that as well?

Actually, they have the stadard and indicators of veryfying the tokens or coins.
But at least, the tokens must be lsted in the exchanges that have high liquidation, volume and also good market caps. Alhtoguh in the reality, ther emay be some other criteria to prove that the coins or tokens are isted or not.

Johnyz

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Quote from: DJANAS on February 14, 2023, 07:47:12 PM

I noticed that Recently CoinMarketCap website has been adding new Tokens without verifying the Token team,goals, and if it's legit.
Most of these currencies collapse during the first weeks of its launch.
i Remember that the website used to check every Token before publishing it to the public.
Has anyone noticed that as well?

As long as you paid for the listing, you can be qualified in CMC and this is the problem since then, there’s a lot of projects being listed in CMC that has become a scam project, I guess this is a reminder to us not to rely only with CMC. Better to look for the project itself and do your own research if you want to be safe with the legit project. Not all new projects are worth to try, do your own work and have a good strategy for your profit taking.

iv4n

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Quote from: Darker45 on February 15, 2023, 08:22:39 AM

Quote from: iv4n on February 15, 2023, 05:59:16 AM

Quote from: joeperry on February 15, 2023, 03:30:59 AM

Quote from: Darker45 on February 14, 2023, 11:21:05 PM

...

Coinmarket, coingecko, and some other similar sites are useful for a quick review of some projects...

But if we compare Coingecko and Coinmarketcap, it is obvious enough that it is a lot easier for a coin or token to get listed on Coinmarketcap than Coingecko. As of this writing, Coinmarketcap has already admitted 22,547 cryptocurrencies while Coingecko has only 12,319. There's a huge difference, almost double, which could mean that more shitcoins are probably listed on Coinmarketcap than Coingecko. So while both are not reliable sites as far as legitimacy of the coins or projects are concerned, it is better to check Coingecko than Coinmarketcap.

Yes, that is a big difference... I didn't notice this before. I know about "Coinpaprika" as well, check this out:

48k currencies? More than double compared to Coinmarketcap... x4 compared with Coingecko. This is interesting I must say, which price-tracking website has the highest listing standards?
After a bit of digging, I found Cryptoslate, just 2.6k cryptos, but tokens/PoS/PoW is separated, anyway much fewer listed cryptos than on other sites:

In the end, price-tracking sites can be good for some start/basic searches... but as you say non of them is reliable for project legitimacy! With that said, these sites are only of an informational nature and have no real weight.

Cling18

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Quote from: rhomelmabini on February 15, 2023, 12:27:05 PM

Quote from: DJANAS on February 14, 2023, 07:47:12 PM

I noticed that Recently CoinMarketCap website has been adding new Tokens without verifying the Token team,goals, and if it's legit.
Most of these currencies collapse during the first weeks of its launch.
I Remember that the website used to check every Token before publishing it to the public.
Has anyone noticed that as well?

I think even if they just pay them to list there will be a fine for CMC, nothing comes that legit if they are listed on CMC, it's not a guarantee. For anyone to know how to check the legitimacy of a project has a lot of factors to consider, and just because they aren't/yet listed on the site doesn't mean both ways. Keep that in mind. I don't know if it's still Binance that doing the operation for CMC.

This is a common mistake of most investors. They think that the coins listed on CMC are legit. It will still be better to double check the potential of a coin because being listed on CMC isn't a reliable reason to check the legitimacy of a coin. There are other ways to check their legitimacy if we will only do deeper research because if we will just rely on coins being listed, we might only fall for scammers' trap.

rhomelmabini

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Quote from: DJANAS on February 14, 2023, 07:47:12 PM

I noticed that Recently CoinMarketCap website has been adding new Tokens without verifying the Token team,goals, and if it's legit.
Most of these currencies collapse during the first weeks of its launch.
i Remember that the website used to check every Token before publishing it to the public.
Has anyone noticed that as well?

I think even if they just pay them to list there will be fine for CMC, nothing comes that legit if they are listed on CMC, it's not a guarantee. For anyone to know how to check the legitimacy of a project has a lot of factors to consider, and just because they aren't/yet listed on the site doesn't mean both ways. Keep that in mind. I don't know if it's still Binance that doing the operation for CMC.

Odusko

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Quote from: DJANAS on February 14, 2023, 07:47:12 PM

I noticed that Recently CoinMarketCap website has been adding new Tokens without verifying the Token team, goals and if it's legit.
Most of these currencies collapse during the first weeks of their launch.
I Remember that the website used to check every Token before publishing it to the public.
Has anyone noticed that as well?

The so-called new coins are just refurbished scams that have happened before and are just rebranding in another form just to scam investors, so coin market cap is just a platform that is free for all and as long as the coin can meet the requirements they're listed on the sites.
Most of the coins that are recently listed on coinmarket capitalization are mostly pump-and-dump coins, but what we must know as investors are to make our own personal research about any project we want to invest in.

Darker45

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Quote from: iv4n on February 15, 2023, 05:59:16 AM

Quote from: joeperry on February 15, 2023, 03:30:59 AM

Quote from: Darker45 on February 14, 2023, 11:21:05 PM

This has always been the way with Coinmarketcap. But it is not a big deal. Coinmarketcap is not a site where one could verify whether a coin or token is legit or not. It
...

That's true, I've seen a lot of shitty coins that was listed before on the Coinmarket cap and it's on the "Trend" section too which give that coin more exposure but that doesn't mean they are legitimate and trusted project, they don't have any strict requirements and they are just there to provide data about that coin and not encourage to buy that coins. It's the job of the investor if they are going to invest to that project or not but the Coinmarketcap will just show data of that coin, brief information and where it can be exchanged.

Coinmarket, coingecko, and some other similar sites are useful for a quick review of some projects. Except for info where some coins/tokens can be exchanged, there are direct links to their sites, along with the price statistic. But as both of you pointed out, people should not rely only on these sites when they are looking for investments. It can be a good start, but nothing more than that...

But if we compare Coingecko and Coinmarketcap, it is obvious enough that it is a lot easier for a coin or token to get listed on Coinmarketcap than Coingecko. As of this writing, Coinmarketcap has already admitted 22,547 cryptocurrencies while Coingecko has only 12,319. There's a huge difference, almost double, which could mean that more shitcoins are probably listed on Coinmarketcap than Coingecko. So while both are not reliable sites as far as legitimacy of the coins or projects are concerned, it is better to check Coingecko than Coinmarketcap.

maydna

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Yes, I noticed that now on the market, there are more and more new tokens that we don't know what functions and uses they have for us. Indeed they say that their project will provide something different from previous projects or other projects, but we don't know which project can survive through every cycle in the crypto market.

I don't pay much attention to such token projects and stick with other big coins. This will make it easier for me to get coins that might have the potential to increase in the next altcoin season.

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Quote from: DJANAS on February 14, 2023, 07:47:12 PM

I noticed that Recently CoinMarketCap website has been adding new Tokens without verifying the Token team,goals, and if it's legit.
Most of these currencies collapse during the first weeks of its launch.
i Remember that the website used to check every Token before publishing it to the public.
Has anyone noticed that as well?

They are adding because these tokens have met the requirements they laid out even useless and scam projects can get in because they know how to tweak the project to make it look good in the eyes of investors and Coinmarketcap team, Coinmarketcap or Coingecko are not the parameters anymore to check if the project is legit.
In fact every year there are hundreds of coins or tokens listed on these two market aggregators that do not have volume or updates anymore.

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Quote from: DJANAS on February 14, 2023, 07:47:12 PM

I noticed that Recently CoinMarketCap website has been adding new Tokens without verifying the Token team,goals, and if it's legit.
Most of these currencies collapse during the first weeks of its launch.
i Remember that the website used to check every Token before publishing it to the public.
Has anyone noticed that as well?

You've noticed it quite late. They've been doing that even before the acquisition of Binance. That's why it has become the standard of most projects to be listed there because they're the most popular listing crypto website.
It's essential that we tell everyone who's new to the market to DYOR because that will help them to avoid these projects that don't really have good intentions for the community.
They are there to scam people and will just rug pull whenever they feel that they've got enough profit already.

iv4n

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Quote from: joeperry on February 15, 2023, 03:30:59 AM

Quote from: Darker45 on February 14, 2023, 11:21:05 PM

This has always been the way with Coinmarketcap. But it is not a big deal. Coinmarketcap is not a site where one could verify whether a coin or token is legit or not. It
...

That's true, I've seen a lot of shitty coins that was listed before on the Coinmarket cap and it's on the "Trend" section too which give that coin more exposure but that doesn't mean they are legitimate and trusted project, they don't have any strict requirements and they are just there to provide data about that coin and not encourage to buy that coins. It's the job of the investor if they are going to invest to that project or not but the Coinmarketcap will just show data of that coin, brief information and where it can be exchanged.

Coinmarket, coingecko, and some other similar sites are useful for a quick review of some projects. Except for info where some coins/tokens can be exchanged, there are direct links to their sites, along with the price statistic. But as both of you pointed out, people should not rely only on these sites when they are looking for investments. It can be a good start, but nothing more than that...

When it comes to "new tokens on Coinmarketcap" I tried to remember 2015 and how cryptos were listed at that time... anyway, this is how it looks now:

I found an old image on the internet:

So 20k new listings in some very short period...

I guess it's the question when we will see 30k, maybe this year?

vv181

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Listing criteria on CoinMarketCap does not really tell anything, let alone prove the cryptocurrency or token's legitimacy. It is also not the job of the coin/token aggregator to verify the project itself. Neither the users also should rely upon CMC or any similar websites, it is expected that the user themselves should run through their own due diligence.

Back to the CMC part, if we take a look at the current total listed cryptocurrencies, only a handful of cryptocurrencies are worth taking a look at, say only the fifth page from its total page, 90. So being listed on CMC doesn't imply any significance of a project, in fact, some project favour that CMC listing as part of the project's milestones, which is it's a truly shady decision.

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I think anyone can add anything to coinmarketcap, but coinmarketcap only this information as a basic information about the project or token. There are thousands of altcoins that are not traded anywhere, but they still on aggregators like cmc or coingecko. There are even people or groups that offer "coinmarketcap listing". You fill online submission form and wait. Most likely coinmarketcal will add altcoin to general list if project looks more or less legit. In fact, they are interested in adding as many as possible alts, as users are redirected from coinmarketcap to trading platform and coinmarketcap earns affilate rewards, or users can buy directly from coinmarketcap. In short - the more they add, the more commission they earn.

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Quote from: joeperry on February 15, 2023, 03:30:59 AM

That's true, I've seen a lot of shitty coins that was listed before on the Coinmarket cap and it's on the "Trend" section too which give that coin more exposure but that doesn't mean they are legitimate and trusted project, they don't have any strict requirements and they are just there to provide data about that coin and not encourage to buy that coins. It's the job of the investor if they are going to invest to that project or not but the Coinmarketcap will just show data of that coin, brief information and where it can be exchanged.

The problem here is, those newbies are using it to look for a coin to invest their money with without knowing they are about to fall into the scammer's trap where they are lured to invest in shitcoins. Most people are not aware of the danger of looking to scrap some new altcoins in the Coinmarketcap because they don't know that it is not for the place to look for new coins rather it's just to check its price.

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Quote from: Darker45 on February 14, 2023, 11:21:05 PM

This has always been the way with Coinmarketcap. But it is not a big deal. Coinmarketcap is not a site where one could verify whether a coin or token is legit or not. It
...

That's true, I've seen a lot of shitty coins that was listed before on the Coinmarket cap and it's on the "Trend" section too which give that coin more exposure but that doesn't mean they are legitimate and trusted project, they don't have any strict requirements and they are just there to provide data about that coin and not encourage to buy that coins. It's the job of the investor if they are going to invest to that project or not but the Coinmarketcap will just show data of that coin, brief information and where it can be exchanged.

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Quote from: DJANAS on February 14, 2023, 07:47:12 PM

I noticed that Recently CoinMarketCap website has been adding new Tokens without verifying the Token team,goals, and if it's legit.
Most of these currencies collapse during the first weeks of its launch.
i Remember that the website used to check every Token before publishing it to the public.
Has anyone noticed that as well?

Maybe a rumor or a vague statement. Im pretty sure coinmarketcap list some of the project with required classification on their prerequisites. Im not a fan of coi marketcap, but they are doing great I think. If you think they are lousy on listing tokens then kindly message them cause as long those project are good with the assesment whether they are anonymous or what they will list it especially if they have volume which traders might click on their website to have reference of information.

Topic: Be careful Many New Tokens on Coinmarketcap are - page 3. (Read 468 times)